NZDCAD - BUY NOW SET UP
New Zealand’s (NZ) GDP rose by 14% in the September quarter, a stronger than expected rebound from the COVID-19 lockdown in the previous quarter, economists at Westpac inform. This data will have embedded the expectations that the Reserve Bank of New Zealand (RBNZ) will be in no hurry to cut-rate again.
The NZD has appreciated by nearly 7.8% against the US dollar this quarter and is up 5.8% on a year-to-date basis as the kiwi has jumped to 0.7150, a 32-month high.
Successfully eliminating the spread of COVID-19 has allowed the New Zealand economy to rapidly swing back into action once the restrictions were lifted. The production measure of GDP rose by 14% in the September quarter, following an 11% drop in the June quarter (revised up from -12.2%).
Entry around: 0.90873
SL: 0.90516
Expected TP: 0.91623
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- Price has broken out of the lower Support & Resistance , the confirmation to enter this trade would have been the retrace and bounce of the Resistance to continue its bullish momentum. Happy that price will reach a previous higher level of Resistance with the positive NZD data.
⚠️📈Risk Management // Disclaimer 📈⚠️
• Please remember that patience is the second name of this business and risk management is everything.
• Do not risk more than what you can afford and do not be greedy.
• The analysis, insights, and market breakdowns we provide are just ideas so it is your choice to follow our analysis or not.
• We will not be held responsible for any losses on your account as we do not have access to gain control to place your trades, you are the manager of your capital and it is down to you to manage this correctly.
Lot Sizes:
💰 £100-£300 : 0. 01 - 0.03
💰£400 - £500 : 0.04 - 0.05
💰£1000 - £2000 : 0.1 - 0.15
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Trading Futures , Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Trading View posts and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice.
We do, however, encourage our clients that are intending to trade, to be fully aware of the risks, fundamentals, technicalities associated with being a profitable trader. Appropriate training is necessary to succeed.
A reminder - trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage.
We do not take responsibility for any trader's loss and gain no reward or have no ownership of any profits made.
The NZD has appreciated by nearly 7.8% against the US dollar this quarter and is up 5.8% on a year-to-date basis as the kiwi has jumped to 0.7150, a 32-month high.
Successfully eliminating the spread of COVID-19 has allowed the New Zealand economy to rapidly swing back into action once the restrictions were lifted. The production measure of GDP rose by 14% in the September quarter, following an 11% drop in the June quarter (revised up from -12.2%).
Entry around: 0.90873
SL: 0.90516
Expected TP: 0.91623
______________________________________________
- Price has broken out of the lower Support & Resistance , the confirmation to enter this trade would have been the retrace and bounce of the Resistance to continue its bullish momentum. Happy that price will reach a previous higher level of Resistance with the positive NZD data.
⚠️📈Risk Management // Disclaimer 📈⚠️
• Please remember that patience is the second name of this business and risk management is everything.
• Do not risk more than what you can afford and do not be greedy.
• The analysis, insights, and market breakdowns we provide are just ideas so it is your choice to follow our analysis or not.
• We will not be held responsible for any losses on your account as we do not have access to gain control to place your trades, you are the manager of your capital and it is down to you to manage this correctly.
Lot Sizes:
💰 £100-£300 : 0. 01 - 0.03
💰£400 - £500 : 0.04 - 0.05
💰£1000 - £2000 : 0.1 - 0.15
*******************************
Trading Futures , Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Trading View posts and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice.
We do, however, encourage our clients that are intending to trade, to be fully aware of the risks, fundamentals, technicalities associated with being a profitable trader. Appropriate training is necessary to succeed.
A reminder - trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage.
We do not take responsibility for any trader's loss and gain no reward or have no ownership of any profits made.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.